French tidal energy company eyes up to €2M of fresh funding

by admin
French tidal energy company eyes up to €2M of fresh funding

Home Marine Energy French tidal energy company eyes up to €2M of fresh funding

September 15, 2023,
by

Amir Garanovic

French company EEL Energy is looking to raise up to €2 million in new funding to help advance its tidal energy technology and projects.

The installation of EEL Energy’s tidal turbine in Rhône river (Courtesy of EEL Energy)

One year after successfully closing the equity round, where it collected funds from existing and new shareholders, EEL Energy has embarked on another fundraising campaign targeting between €1-2 million to support its business and operations.

According to the company, it managed to deliver the objectives set out last year, having managed to prove the effectiveness of its membrane technology during tests in Brest, claiming 50% more efficiency than conventional tidal energy devices.

  • Posted: 4 months ago

Also, EEL Energy said it reached the preliminary design stage for a 1MW tidal energy device, and is making good progress with corporate, state, and international institutions to fund the acceleration of its commercial and industrial deployments around mid-2024.

Perhaps the biggest milestone for the company over this one-year period since the last fundraiser was the successful deployment of 30kW device on the Rhône river, which is already supplying clean energy to the French power grid.

The turbine represents the first of four planned that will form a fluvial clean energy farm – the first such undertaking in the world.

    • video

    Posted: about 1 month ago

EEL Energy noted that the minimum investment ticket for the participation in this funding round has been set at €100,000.

The company’s tidal energy converter has been designed to replicate the undulating movements of marine life, consisting of a membrane that optimizes energy transfer by coupling fluid flow with an undulating structure.

The energy is converted along the whole length of the membrane surface which undulates under moving fluid pressure, and this periodic motion is transformed into electricity by an electromechanical system.

Subscribe and follow

Offshore Energy – Marine Energy LinkedIn

    • energy transition

    Posted: about 1 month ago

  • Posted: 2 months ago

  • Posted: 8 days ago

    • long read

    Posted: 11 days ago

  • Posted: 2 months ago

  • Posted: 5 days ago

    • video

    Posted: 25 days ago

  • Posted: about 1 month ago

You may also like

Leave a Comment

multipurpose site for ROV ,drone services,mineral ores,ingots,agro commodities-oils,pulses,fatty acid distillate,rice,tomato concentrate,animal waste -gallstones,maggot feed ,general purpose niche -consumer goods,consumer electronics and all .Compedium of news around the world,businesses,ecommerce ,mineral,machines promotion and affiliation and just name it ...
multipurpose site for ROV ,drone services,mineral ores,ingots,agro commodities-oils,pulses,fatty acid distillate,rice,tomato concentrate,animal waste -gallstones,maggot feed ,general purpose niche -consumer goods,consumer electronics and all .Compedium of news around the world,businesses,ecommerce ,mineral,machines promotion and affiliation and just name it ...

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy